Category: Stock Market

The EcoGraf Ltd (ASX: EGR) share price is taking off on news the company’s battery anode material has outperformed international hydrofluoric acid-free benchmarks.

According to EcoGraf, a major anode producer put the company’s HFfree battery anode material through performance testing, with the product returning encouraging results.

Unsurprisingly, the market is responding well to EcoGraf’s news. At the time of writing, the EcoGraf share price is 67.5 cents, 4.65% higher than its previous close.

Let’s take a closer look at today’s announcement from the electric vehicle and lithium-ion-focused vertically intergrated battery anode material producer.

EcoGraf’s product outperforms competition

The EcoGraf share price is gaining on news that the material the company will produce at its new Western Australian Battery Anode Material Facility has outperformed international benchmarks.

An unnamed anode producer found EcoGraf’s HFfree battery anode material outperformed reference materials in half-cell electrochemical testing. The battery anode material also satisfied the producer’s physical and chemical specifications.

According to EcoGraf, the test results represent a “critical milestone”.

The company is currently finalising its construction plans for its Western Australian Battery Anode Material Facility. The facility will be the first of its kind, and today’s news further supports EcoGraf’s environmentally-friendly processing technology.

EcoGraf’s HFfree battery anode material is made without hydrofluoric acid. According to the company, hydrofluoric acid is highly toxic and widely used to create battery spherical graphite with 99.95% carbon grade.

Spherical graphite makes up battery anode material.

Previously, EcoGraf has found it can produce spherical graphite with 99.97% carbon grade without using hydrofluoric acid.

The West Australian facility will export the hydrofluoric acid-free battery anode material to battery markets in Asia, Europe, and North America.

EcoGraf share price snapshot

This year has been particularly good to the EcoGraf share price.

It is currently 302% higher than it was at the start of 2021. It has also gained 280% since this time last year.

The post EcoGraf (ASX:EGR) share price lifts 5% on battery anode update appeared first on The Motley Fool Australia.

More reading

• Why the MoneyMe (ASX:MME) share price is rocketing 10% this Monday
• Here’s what happened to the AMP (ASX:AMP) share price in the FY21 third quarter
• ASX 200 energy shares open higher as oil prices double in past 12 months
• 2 gold ASX shares experts are loving right now
• Superloop (ASX:SLC) share price soars 21% following asset sale

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3nkjiRB

The MoneyMe Ltd (ASX: MME) share price is shooting straight for the moon.

At the time of writing, shares in the consumer credit business are trading for $2.09 – up 10%. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.28% higher.

The positive price movement comes as the company releases its trading update for the first quarter of FY22.

Let’s take a closer look at today’s announcement.

What did MoneyMe announce?

The MoneyMe share price may be rocketing today due to the following results:

• $1 billion in customer receivable originations since 2013.
• Originations of $173 million in the quarter – up 283% on the prior corresponding period (pcp) and 7.45% over the previous quarter.
• Gross customer receivables of $452 million – up 227% on the pcp and 26.7% on the prior quarter.
• Record revenue of $23 million – up 92% on the pcp and 21% on Q4 of FY21.

What did management say?

MoneyMe’s Managing Director and CEO Clayton Howes said:

I am delighted to announce that MoneyMe has passed the $1bn origination milestone. This reflects our consistent focus over time to invest in and develop the digital capabilities of our Horizon technology platform, an unrelenting focus on the Generation Now customer and our persistent innovation.

What’s affecting the MoneyMe share price?

Looking deeper into the numbers, MoneyMe says its personal loans and freestyle divisions continue to drive the majority of growth in the business – both being quite resilient during lockdown.

Autopay, MoneyMe’s consumer car financing facility, achieved “significant growth despite the challenges of car buyers during lockdown”.

The MoneyMe share price may also be rising due to its “strong” performing credit and book quality metrics. Net charge-offs were 5.4% down on the pcp and COVID-19 deferrals were low at 0.2% of customer receivables.

MoneyMe share price snapshot

Over the past 12 months, the MoneyMe share price has increased 36.4%. Year-to-date, shares in the company have appreciated 42.9%.

The 52-week high is $2.48 and the 52-week low is $1.29.

MoneyMe has a market capitalisation of approximately $358 million.

The post Why the MoneyMe (ASX:MME) share price is rocketing 10% this Monday appeared first on The Motley Fool Australia.

More reading

• MoneyMe (ASX:MME) share price gains 3% on new funding agreement

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3pc9FXx

The AMP Ltd (ASX: AMP) share price has moved in circles since the company entered the second-half of FY21.

AMP shares kicked off the second quarter at $1.125 apiece and have travelled sideways for most of the period. At the end of 3 months, the financial services company’s share price closed at 99 cents.

Today, AMP shares are swapping hands for $1.125, down 0.44%.

What happened in Q3 FY21?

The biggest story that affected the AMP share price in the third quarter of FY21 was the company’s half-year results.

AMP delivered a robust scorecard, highlighting a rebound across key financial metrics. This was largely driven by management’s focus on the Australian wealth management net cash outflows and controllable costs.

The board decided to maintain a conservative approach to its capital and dividends until the demerger and future strategies are finalised. AMP did not declare an interim dividend for the period which led to shareholders dumping the company’s shares.

Another story worth mentioning was that the Australian Securities and Investment Commission (ASIC) formally ended its investigation into AMP.

The allegations centred around suspicions of criminal conduct related to AMP’s “fees for no service” conduct. This revolves around charging fees to people who did not have access to a financial advisor.

However, ASIC dropped the case, opting not to pursue criminal charges against AMP.

Lastly, the company’s shares hit a new multi-decade low after three members of the Independent Advisory Committee resigned. The report from the Australian Financial Review stated that GPT Group (ASX: GPT) and Mirvac Group (ASX: MGR) “have been shortlisted” for a takeover of the running of AMP’s $7 billion Capital Wholesale Office Fund.

About the AMP share price

In the months following AMP’s results, its shares hit a multi-decade low of 88.5 cents in late September, before rebounding higher.

When zooming out to the last 12 months, the AMP share price has fallen 20%, with year-to-date down around 30%. The company’s shares have lost about 80% of its wealth since early 2018.

In context, the S&P/ASX 200 Index (ASX: XJO) has gained 20% from this time last year and is up more than 10% year-to-date. The ASX 200 also reached a record high of 7,632 points in mid-August.

AMP presides a market capitalisation of roughly $3.69 billion and has approximately 3.3 billion shares on its registry.

The post Here’s what happened to the AMP (ASX:AMP) share price in the FY21 third quarter appeared first on The Motley Fool Australia.

More reading

• AMP (ASX:AMP) share price lifts amid new board appointments
• Why this top broker sees 16% upside for the AMP (ASX:AMP) share price
• How has the AMP (ASX:AMP) share price beaten the market over the past week?
• Why did the AMP (ASX:AMP) share price have such a terrible September?
• Here are the 3 most traded ASX 200 shares so far this Tuesday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3AKG5KQ

ASX 200 energy shares opened firmer on Monday as oil prices continued to rally to multi-year highs.

Western Texas Intermediate is currently trading 56 cents higher, or 0.68%, at a 7-year high of US$83.03 a barrel.

Similarly, the global benchmark, Brent Crude, is up 38 cents, or 0.45%, to US$85.27 a barrel.

Just 12 months ago, both oil prices were sitting at around US$40 a barrel.

A solid start to the week for ASX 200 energy shares

The S&P/ASX Energy (INDEXASX: XEJ) is currently the best performing sector this morning, up 0.96%.

The largest oil and gas player, Woodside Petroleum Limited (ASX: WPL) is currently up 0.36% at $25.27.

The Oil Search Ltd (ASX: OSH) share price is currently up 0.88% at $4.56.

Similarly, Santos Ltd (ASX: STO) is also trading 0.89% higher at $7.41.

Meanwhile, Beach Energy Ltd (ASX: BPT) is leading the gains, up 2.94% at $1.48.

What’s next for oil prices?

Positive demand and supply factors have helped drive a sustained push in oil prices.

Analysts believe that oil prices could continue to trend higher amid a recovery in global energy demand.

“Crude prices are rallying after another round of strong earnings and economic data suggests the economy can still handle the current surge in energy prices,” said OANDA senior market analyst Ed Moya, according to S&P Global.

“It will take a trifecta of events to derail this oil price rally: OPEC+ unexpectedly boosts output, warm weather hits the northern hemisphere, and if the Biden administration taps the strategic petroleum reserves,” Moya added.

Analysts at TD Securities also flagged the sharp increase in natural gas and coal prices as another tailwind for crude oil demand.

Gas to oil switching is “particularly fuelling upside momentum in Brent Crude and heating oil, which can be exacerbated by up to 1 million [barrels a day] of incremental winter demand.”

Despite oil prices sitting at multi-year highs, most ASX 200 energy shares remain well below pre-COVID levels.

The post ASX 200 energy shares open higher as oil prices double in past 12 months appeared first on The Motley Fool Australia.

More reading

• Here are the 3 heaviest traded ASX 200 shares this Wednesday so far
• Here are the 3 heaviest traded ASX 200 shares on Tuesday so far
• Why is the Beach Energy (ASX:BPT) share price falling on Tuesday?
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 heaviest traded ASX 200 shares on Monday

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3jbImss

Despite a rally the last few days, the S&P/ASX 200 Index (ASX: XJO) has lost 3.6% since mid-August.

In such turbulent times, an old investing axiom says gold can be a safe haven.

Whether that’s wise or not is up for debate, as some experts dislike how unproductive gold is as an asset.

But if you decide the precious metal is right for you, there are many ASX shares that can give you exposure.

Fortunately for you, The Motley Fool has dug up a couple of expert “buy” recommendations for you to consider.

Big risk for big reward in Africa

Shares for gold miner Turaco Gold Ltd (ASX: TCG) have doubled since May.

Argonaut associate dealer Harrison Massey is a fan of the business which operates gold projects in the West African country of Cote d’Ivoire.

“The company is progressing its 9000-metre air core drilling program, testing 3 kilometres of northern and southern strike extensions at Nyangboue,” he told The Bull.

“The company is led by an experienced mining team.”

As Turaco is in an exploratory stage, Massey acknowledges the risk involved in these shares.

If the company hits gold, shareholders will be bathing in returns. If it doesn’t and goes broke, then the stock could go to zero.

“Recently, the shares have been enjoying favourable momentum, rising from 9.8 cents on September 30 to close at 15 cents on October 14,” he said.

“Explorers carry risk but any encouraging results should paint a brighter outlook.”

Turaco shares were trading for 14 cents on Monday morning.

Digging for gold in Western Australia

Closer to home, Calidus Resources Ltd (ASX: CAI) is in a more mature stage than Turaco.

TradeDirect365 technical consultant Braden Gardiner rates it as a “buy” while the business is building the “Warrawoona” mine in the east Pilbara of Western Australia.

“It has regulatory approvals and finance. The company is on schedule to produce gold in the June quarter of 2022.”

Calidus shares were trading for 60 cents on Monday morning, which is more than 38% up in the past 6 months.

“Buyers supporting higher price levels provide an encouraging outlook,” Gardiner said. 

“We expect positive momentum to drive the price through 75 cents.”

The post 2 gold ASX shares experts are loving right now appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Aristocrat’s $5bn acquisition, Zip falls on Q1 update
• 5 things to watch on the ASX 200 on Monday
• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week
• Here are the top 10 ASX shares today

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3FYZjQD

The Superloop Ltd (ASX: SLC) share price is surging higher today after its latest announcement. Eager eyes have turned to the company’s shares after an agreement to sell Superloop’s Hong Kong operations, as well as select Singapore assets.

At the time of writing, shares in the telecommunications infrastructure company are changing hands for $1.18, up 21.65%. For comparison, the S&P/ASX 200 Index (ASX: XJO) is trading 0.04% lower in early trade.

Let’s lift the lid on Superloop’s latest transaction.

Superloop share price climbs on offloading

Superloop shareholders are watching on as the company’s value stampedes higher on Monday. It appears investors are supportive of the latest strategic business decision.

According to the company’s announcement, Superloop has entered a binding agreement with funds affiliated with Columbia Capital and DigitalBridge Investment Management. The agreement entails the sale of Superloop’s Hong Kong operations, in addition to select assets of Superloop Singapore.

Positively, the $140 million sale price of these assets represents a 30% premium ($32 million) above the current carrying value.

However, there is more to the announcement than a simple asset sale. As part of the deal, Superloop will enter a 15-year indefeasible right of use on the existing or future expanded Singapore and Hong Kong networks. This will allow the ASX-listed company to continue participating in these geographies through its INDIGO submarine cable.

Under the terms, Columbia Capital and DigitalBridge will become strategic partners with Superloop to expand upon its INDIGO traffic with a preferential supply agreement.

Essentially, this means the investment funds will assist in expanding Superloop’s customers while they become customers at a discounted rate. The terms seem to be looked upon fondly by investors today, with the Superloop share price surging.

Management commentary

Commenting on the asset sale and partnership, Superloop CEO and managing director Paul Tyler stated:

I recognised when I joined Superloop that one of our great opportunities was to look at the invested capital of the business and where appropriate, recycle it and re-invest in areas that will drive greater shareholder returns. This sale of our Hong Kong business and select Singapore assets, at a premium to their carrying values, allows the company to release significant shareholder funds and redeploy them into more strategically aligned assets, higher growth opportunities and markets.

Furthermore, the announcement highlighted that the company will undergo a review of its capital. This will include the proceeds from this sale, gearing level, growth investments, liquidity, etc. Subsequently, Superloop plans to update the market on the outcomes of this review in February 2022.

Finally, the expectation is the company will be in a much stronger net cash position from this sale and review. As a result, Superloop hopes to be better primed for investing in organic growth, as well as merger and acquisition opportunities.

Superloop snapshot

The Superloop share price has outperformed the benchmark index over the past year. Specifically, the telecom offering has surged more than 30% in the past 12 months. Meanwhile, the Aussie index has added 18.4% during the same time period.

According to its financial reports ending June 2021, the company held $89.724 million in cash and cash equivalents. On the other hand, its debts totalled $56.134 million at the end of the financial year.

The post Superloop (ASX:SLC) share price soars 21% following asset sale appeared first on The Motley Fool Australia.

More reading

• 2 gold ASX shares experts are loving right now
• ASX 200 (ASX:XJO) midday update: Aristocrat’s $5bn acquisition, Zip falls on Q1 update
• Why is the Afterpay (ASX:APT) share price so volatile?
• Here’s why the Alcidion (ASX:ALC) share price is jumping 5% today
• Aventus (ASX:AVN) share price shoots 9% higher on HomeCo merger plans

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended SUPERLOOP FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3DUkMIR

At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. The benchmark index is currently up 0.4% to 7,391.5 points.

Here’s what is happening on the market today:

Aristocrat Leisure announces major acquisition

The Aristocrat Leisure Limited (ASX: ALL) share price is in a trading halt today so that it can undertake an equity raising to fund a major acquisition. According to the release, the company has made a cash offer to acquire London-listed leading global online gambling software and content supplier, Playtech, for $5 billion. This represents a valuation multiple of 11.4x Playtech’s adjusted EBITDA for the twelve months ended 30 June 2021.

HUB24 to acquire Class

The HUB24 Ltd (ASX: HUB) share price is trading lower today despite announcing a deal to acquire Class Ltd (ASX: CL1). According to the release, the company is acquiring the self-managed super fund (SMSF) administration software provider for 1 HUB24 share for every 11 Class shares owned. In addition, HUB24 will provide 10 cents per Class share in cash. Combined, this represents a 71.6% premium to Class’ last close price.

Zip Q1 update

The Zip Co Ltd (ASX: Z1P) share price is dropping on Monday despite announcing a record first quarter performance. The buy now pay later provider reported record quarterly revenue of $136.8 million, up 89% year-on-year. This was driven by a 101% increase in quarterly transaction volume to $1.9 billion and an 82% jump in customer numbers to 8 million. Zip also revealed that it successfully completed a global rebrand across six countries during the quarter.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Nickel Mines Ltd (ASX: NIC) share price with a 4% gain. This morning Ord Minnett initiated coverage on the nickel producer with an accumulate rating and $1.10 price target. The worst performer has been the Kogan.com Ltd (ASX: KGN) share price with a 4% decline on no news.

The post ASX 200 (ASX:XJO) midday update: Aristocrat’s $5bn acquisition, Zip falls on Q1 update appeared first on The Motley Fool Australia.

More reading

• Class (ASX:CL1) share price explodes 60% on takeover news
• Zip (ASX:Z1P) share price edges higher after record quarterly update
• HUB24 (ASX:HUB) share price rises amid acquisition announcement
• Aristocrat (ASX:ALL) share price halted for $5bn Playtech acquisition
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hub24 Ltd, Kogan.com ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Class Limited and Kogan.com ltd. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3n1Bnng

For the many things the Afterpay Ltd (ASX: APT) share price is known for, stability is not high on the list. Yes, this buy now, pay later (BNPL) pioneer has delivered some neck-cracking growth over the past few years. Just for context, the Afterpay share price is currently still up an incredible 4,016% over the past 5 years at its current level of $121.47 a share (at the time of writing).

But that growth has not come smoothly.

A brief history of a BNPL giant

Back in 2018, Afterpay shares rose more than 200% between just April and August. In the 2 subsequent months, the company then lost roughly 42% of its value. In 2019, we saw a similar experience, with the shares putting on more than 70% over just a couple of months, but not without a subsequent 25% drop as well.

And then, we had 2020.

The coronavirus-induced market crash in early 2020 saw global markets tank. The S&P/ASX 200 Index (ASX: XJO) alone lost roughly 36% between 20 February and 23 March 2020.

But that was nothing compared to what happened to Afterpay shares. Afterpay was riding high in early 2020, hitting new all-time highs and peaking at close to $40 by February. But when the market crash hit, Afterpay shares were annihilated. The company rapidly fell from close to $40 in February to under $9 a share by 23 March. That was a fall of close to 80% peak to trough.

But for investors who managed to hold on during this wild ride, the rewards were even more dramatic. Once it became clear that the global economy was going to be liberally supported by government intervention, global markets rebounded across April and May 2020.

By May, Afterpay was back to making new all-time highs above $40 a share. By August, it had hit $80. And by February 2021, $160 a share (its current all-time high).

In more recent months, the Afterpay share price has been influenced by the takeover offer that was made for the company by Square Inc (NYSE: SQ). Square is to acquire Afterpay after the US-based payments company made an all-scrip offer of 0.375 Square shares for every Afterpay share back in August.

Why is the Afterpay share price so volatile?

So now we have a good idea of how volatile the Afterpay share price is, why is this the case?

That’s a complex question. The most important thing to note is Afterpay’s reputation as an ASX growth share. Growth shares are usually characterised by a number of factors. These include rapid revenue growth rates, negative earnings, a reputation for ‘disruption’ and a passionate investor base. Afterpay has arguably displayed all of these characteristics for a number of years now.

It is difficult to value a company of this nature with traditional metrics like the price-to-earnings (P/E) ratio. As such, we often see a wide variety of views as to what the future holds. In other words, you tend to see investors flocking to one of two camps: ‘Afterpay is way too cheap’, or ‘Afterpay is way too expensive’.

This dichotomy can be described as one of the possible reasons Afterpay shares have been so volatile over the past few years. If and when Afterpay is swallowed by Square, the ASX will lose one of its hottest, but most polarising and volatile shares it has seen in years. But the Afterpay share price has sure made many investors very happy along the way.

The post Why is the Afterpay (ASX:APT) share price so volatile? appeared first on The Motley Fool Australia.

More reading

• Why has the Afterpay (ASX:APT) share price lost 7% in 3 weeks?
• Own Afterpay (ASX:APT) shares? This little-known company is aiming to disrupt the BNPL sector
• These ASX tech shares are lighting up the ASX 200 today
• Own ASX BNPL shares? World Payments Report delivers insights into future of sector
• Zip (ASX:Z1P) share price on watch after broker downgrade

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3BQCYSN

The Alcidion Group Ltd (ASX: ALC) share price is rocketing higher today after the company announced the Sydney Local Health District has expanded its use of Miya Precision.

The expanded agreement will see Alcidion with an extra $1.8 million of revenue over the next 3 years.

At the time of writing, the Alcidion share price is 37 cents, 5.71% higher than its previous close.

Let’s take a closer look at today’s news from the healthcare-focused software provider.

Alcidion share price soars on expanded agreement

The Alcidion share price is in the green after news Miya Precision is to help support more delivery of virtual care.

Miya Precision is a remote patient-monitoring platform. It provides Sydney Local Health District’s RPA Virtual Hospital‘s clinicians with a monitoring dashboard to support remote patient care.

Initially, the company’s contract with Sydney Local Health District was for 12 months. The initial contract saw Miya Precision used to manage the care of COVID-19 patients in home isolation.

Under the newly expanded agreement, Miya Precision will also help monitor patients with acute diverticulitis.

Alcidion’s managing director, Kate Quirke, commented on the news driving the company’s share price today:

We believe Alcidion can play a meaningful role in the development of virtual care across the hospital system in Australia and this partnership with Sydney Local Health District provides a strong validation of that. The opportunity to extend our technology to provide improved information and communication options for the patient in the home will significantly improve the patient experience and contribute to better outcomes.

According to the company, Miya Precision aims to reduce hospitalisations, increase the number of patients treated, and improve recovery outcomes.

Alcidion and Sydney Local Health District will also work to deploy the patient app, Miya Care.

The app will allow the RPA Virtual Hospital to better monitor care progress and improve engagement with patients. Miya Care will also use data from patient monitoring devices and wearable technology.

The post Here’s why the Alcidion (ASX:ALC) share price is jumping 5% today appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in October 2021

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3DRH7Xg

The Aventus Group (ASX: AVN) share price is shooting higher on Monday morning.

At the time of writing, the large format retail centre operator’s shares are up 9% to a record high of $3.62.

Why is the Aventus share price shooting higher?

Investors have been bidding the Aventus share price higher today after it announced plans to merge with Home Consortium Ltd (ASX: HMC) and HomeCo Daily Needs REIT (ASX: HDN).

According to the release, the agreement will see Aventus shareholders receive 2.2 HomeCo Daily Needs shares and either $0.285 cash or 0.038 Home Consortium shares for every Aventus share they own. This implies an offer price of $3.82, which represents a 15.3% premium to the Aventus share price at the end of last week.

The release notes that the merger will lead to a significant increase in scale, with a combined portfolio size of ~$4.1 billion and a market capitalisation of ~$3.2 billion. This is expected to qualify the merged group for eligibility for inclusion in the S&P/ASX 200 Index (ASX: XJO).

It also expected to allow the merged group to capitalise on its combined 2.5 million square metre landbank across the strongest metropolitan markets of Sydney, Melbourne, Brisbane, Perth and Adelaide to deliver future last mile logistics infrastructure.

What now?

The Aventus Board unanimously considers the merger to be in the best interests of shareholders and recommends that they vote in favour of it. This is in the absence of a superior proposal and subject to the independent expert’s report.

Aventus’ Chairman, Bruce Carter, commented: “The Merger is attractive for Aventus securityholders, both because of the potential offered by being part of the larger merged groups and because the offer reflects a material premium to Aventus’ trading price and its NTA.”

This sentiment was echoed by HomeCo Daily Needs’ Chairman, Simon Shakesheff.

He said: “We believe the merger is strategically and financially attractive for both HDN and AVN and consistent with HDN’s objective to deliver stable and growing distributions. The increased scale and enhanced capability will allow the merged group to unlock significant value that would not have been accessible on a standalone basis.”

The Aventus share price is now up 30% in 2021.

The post Aventus (ASX:AVN) share price shoots 9% higher on HomeCo merger plans appeared first on The Motley Fool Australia.

More reading

• Westpac (ASX:WBC) and this ASX dividend share could be buys in October
• 2 buy-rated ASX dividend shares with 4%+ yields

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended AVENTUS RE UNIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3FYUWoH